Hexagon Composites Relocation Production in Devold AMT to Lithuania

24 January 2012

After discussions with the employee representatives, Hexagon Composites' subsidiary Devold AMT has decided to move the remaining production of composite reinforcements in Langevåg in Norway to the company's factory in Lithuania.

According to Hexagon, the relocation of production implies a reduction of 23 man-labour year while the head office will remain in Langevåg. There will be production in Langevåg until summer 2012.

They say the decision is based on the deficit the business unit has had for several years. The company is experiencing positive growth, however the margins on the products that the company supplies have further fallen following the financial instability of the last few years. Devold AMT has therefore been compelled to adjust its cost level to the market conditions in which it operates.